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(220 ILCS 5/9-222.1A)
Sec. 9-222.1A. High impact business. Beginning on August 1, 1998 and
thereafter, a business enterprise that is certified as a High Impact Business
by the Department of Commerce and Economic Opportunity (formerly Department of Commerce and Community Affairs) is exempt from the tax
imposed by Section 2-4 of the Electricity Excise Tax Law, if the High Impact
Business is registered to self-assess that tax, and is exempt from any
additional charges added to the business enterprise's utility bills as a
pass-on of State utility taxes under Section 9-222 of this Act, to the extent
the tax or charges are exempted by the percentage specified by the Department
of Commerce and Economic Opportunity for State utility taxes, provided the
business enterprise meets the following criteria:
(1) (A) it intends either (i) to make a minimum |
| eligible investment of $12,000,000 that will be placed in service in qualified property in Illinois and is intended to create at least 500 full-time equivalent jobs at a designated location in Illinois; or (ii) to make a minimum eligible investment of $30,000,000 that will be placed in service in qualified property in Illinois and is intended to retain at least 1,500 full-time equivalent jobs at a designated location in Illinois; or
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(B) it meets the criteria of subdivision
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| (a)(3)(B), (a)(3)(C), (a)(3)(D), or (a)(3)(F) of Section 5.5 of the Illinois Enterprise Zone Act;
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(2) it is designated as a High Impact Business by the
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| Department of Commerce and Economic Opportunity; and
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(3) it is certified by the Department of Commerce and
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| Economic Opportunity as complying with the requirements specified in clauses (1) and (2) of this Section.
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The Department of Commerce and Economic Opportunity shall determine the period
during which the exemption from the Electricity Excise Tax Law and the
charges imposed under Section 9-222 are in effect, which shall not exceed 20
years from the date of initial certification, and shall specify the percentage
of the exemption from those taxes or additional charges.
The Department of Commerce and Economic Opportunity is authorized to
promulgate rules and regulations to carry out the provisions of this Section,
including procedures for complying with the requirements specified in
clauses (1) and (2) of this Section and procedures for applying for the
exemptions authorized under this Section; to define the amounts and types of
eligible investments that business enterprises must make in order to receive
State utility tax exemptions or exemptions from the additional charges imposed
under Section 9-222 and this Section; to
approve such utility tax exemptions for business enterprises whose investments
are not yet placed in service; and to require that business enterprises
granted tax exemptions or exemptions from additional charges under Section
9-222 repay the exempted amount if the business enterprise fails
to comply with the terms and conditions of the certification.
Upon certification of the business enterprises by the Department of Commerce
and Economic Opportunity, the Department of Commerce and Economic Opportunity shall
notify the Department of Revenue of the certification. The Department of
Revenue shall notify the public utilities of the exemption status of business
enterprises from the tax or pass-on charges of State utility taxes. The
exemption
status shall take effect within 3 months after certification of the
business enterprise.
(Source: P.A. 98-109, eff. 7-25-13.)
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